As we observe our beloved Steem tokens crash through the floor into the basement of valuation many are asking themselves 'when will this end?' and so the story goes.....
It all comes down to utility and trade. If the day comes where people are willing to exchange goods and services for Steem, that will be the day you will see the price of Steem stabilize and perhaps appreciate in value. Until then all price movements are merely the machinations of speculators.
So what can Steemit and Steemians do to move this process along?
There needs to be a marketplace where those who are willing can trade using Steem tokens as payment within a localized or vertically integrated eco-system. For instance, if in a localized area Steem could be used from the farmer to store to restaurant table, etc.
Does it have to start there? No. It can be as simple as someone willing to sell an old car for Steem.
So besides being a site for blogging and posting socially feasible content, Steemit needs to be a place to exchange goods and services for tokens. Make it so....